HCLTech Reports Strong First Quarter Driven by Record New Orders

HCLTech reported a strong first quarter for the period ending June 30, 2026, securing a record $2.4 billion in net new order TCV (Total Contract Value). The company's revenue reached $3.65 billion, marking a 3% increase year-over-year. Revenue from advanced AI services saw significant growth, rising 62.1% year-over-year to $171 million.

CEO C Vijayakumar stated that the results demonstrate clients choosing HCLTech for their AI-driven transformation initiatives. Growth was fueled by sustained momentum in IT and Enterprise Services, which increased by 4.2% year-over-year. HCL Software's annual recurring revenue also showed a slight increase of 2% year-over-year, reaching $1.06 billion.

Growth by industry vertical was led by Utilities, up 12% year-over-year. Distribution and Consumer Goods, and Technology and Services sectors also contributed positively. Geographically, the U.S. and Europe showed moderate growth, while the Rest of the World experienced a stronger increase.

HCLTech also announced plans to invest up to ₹35 billion (approximately $370 million) to establish AI-dedicated data centers. This investment aims to bolster its capabilities in AI, cloud, and data center design, supporting the company's end-to-end AI solutions offering.

The company reaffirmed its forecast for fiscal year 2027, expecting revenue growth between 1% and 4% and services revenue growth between 1.5% and 4.5%. The expected EBIT margin is projected to be between 17.5% and 18.5%.